When you are in NYC you shouldn't be spending too much time in your hotel room. After all you have the world outside your window, and the last thing you should be doing is taking a nap. It's called 'the city that doesn't sleep' for a reason.
If you are looking for an affordable place to crash that is in a great location, then I would recommend checking out The Jane. With rooms starting at $99 per night, this place is a steal. The Jane is located in the West Village, right next to the trendy Meatpacking District and walking distance to Chelsea, Soho, and Union Square. There are tons of restaurants, bars, nightclubs and boutiques surrounding The Jane, and they are close to the A, C, and E trains at 14th Street.
Go to their website to find out more information: www.thejanenyc.com